Which One of the Following Refers to a Category Based

question 10

Multiple Choice

Which one of the following refers to a category based on the driver's age,sex,marital status,and driving habits that is used to set automobile insurance premiums?

• A)Rating territory
• B)Assigned risk pool
• C)No-fault system
• D)Driver classification
• E)Rating tiers

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Definitions:

Population

The total set of individuals, items, or data from which samples can be drawn for statistical analysis.

Sample Value

A single measurement or observation from a larger set of data collected from a population.

Significant Difference

A statistical measure indicating that the observed differences between two or more groups are not likely due to chance.

Standard Error

An estimate of the standard deviation of the sampling distribution of a statistic, often used in inferential statistics.